Block Trades

Effective July 2, 2026

This page sets out the block trade specifications, and the Position Accountability framework, that the Exchange establishes for Contracts listed on Polymarket US, pursuant to Rules 5.3(m) and 5.9(b) of the Polymarket US Rulebook. The Exchange may change these specifications from time to time and will publish any changes on this page.

Position Accountability

The Position Accountability Level for a Contract is specified in the terms and conditions of the applicable product. If a Participant's position in a Contract exceeds its Position Accountability Level, the Exchange may require the Participant to provide information about the position, including its size, the trading strategy employed, and any hedging purpose, and may direct the Participant not to increase, or to reduce, the position. Positions held in Accounts under common ownership or control are aggregated in accordance with CFTC Regulation 150.4. Established pursuant to Rule 5.9(b).

Block Trades

A block trade is a privately negotiated transaction that meets or exceeds the applicable Block Threshold and is executed apart from the public order book. Block trades are permitted only in the Contracts the Exchange designates as block-eligible, identified in the table below.

  • Eligibility. Each party to a block trade must be an Eligible Contract Participant as defined in Section 1a(18) of the Commodity Exchange Act. To be approved to submit block trades, a Participant must complete and submit the Eligible Contract Participant Questionnaire and the Block Trade Authorization Form, available below, in addition to the Participant Agreement.
  • Minimum size. Each block trade must be for at least the Block Threshold for that Contract, stated in number of Contracts. Orders may not be aggregated to meet the Block Threshold except by a party permitted to aggregate under Rule 5.3(m)(i).
  • Price. The execution price must be fair and reasonable in light of the size of the trade, prevailing prices and market data for the Contract, and the conditions of the relevant markets.
  • Reporting. After a block trade is agreed upon (the “execution time”), it must be submitted to the Exchange via the Portal or other approved communication methods within 15 minutes. Executed block trades are reflected in the Exchange's Time & Sales and Daily Market Report, and are published, identified as such, on the Block Trade Data page.
  • Order book. Block trades do not trigger conditional Orders and do not otherwise affect Orders resting in the order book.
  • Position accountability. Positions established through block trades count toward the Position Accountability Level for the relevant Contract.

Established pursuant to Rule 5.3(m).

Block Trade Application Materials

To be approved to submit block trades, a Participant must complete and submit the following forms, in addition to the Participant Agreement.

Eligible Contract Participant Questionnaire

Confirms the Participant's status as an Eligible Contract Participant.

Download Questionnaire

Block Trade Authorization Form

Authorizes the Participant to submit block trades.

Download Form

Specifications

Category Block-Eligible Block Threshold Reporting Window
Politics Yes 100,000 Contracts Within 15 minutes
Macroeconomics Yes 100,000 Contracts Within 15 minutes
Sports Yes 100,000 Contracts Within 15 minutes

Changes to these specifications take effect on the date stated above. Participants are responsible for reviewing the current version of this page.

Block Trade Fees

Fees on block trades are effective July 9, 2026.

Fees are calculated on a per-Contract basis (and not on premium), using the following formula:

Fee = Θ × C

Where:

  • C — the number of Contracts in the block trade.
  • Θ (theta) — the per-Contract fee coefficient, set out in the table below.
Role Fee coefficient (Θ) Per Contract
Taker 0.0050 50 basis points
Maker 0.0015 15 basis points

Maker Rebate

A maker qualifies for a rebate equal to 50% of its block maker fees if the maker's trailing 30-day traded volume (combined CLOB and block trades) is at least 5% of the Exchange's total trailing 30-day traded volume (combined CLOB and block trades).

Promotional Period

For the first three (3) months following the effective date, no fees will be assessed on block trades.

The Exchange reserves the discretion to update the volume-share threshold and rebate amounts as the Exchange evolves, subject to applicable self-certification requirements.